Asia Green Fund Invested in the Latest Round of Fundraising of BABO - A Leading Unbleached Paper Enterprise
Summary
BABO, a bamboo fiber ecological science and technology company in China (Sichuan Vanov New Material Co., Ltd.), has recently completed a new round of financing with hundreds of millions of yuan, with Asia Green Fund (AGF) as one of the investors. The company aims to expand the new concept of ecological and environmental protection and to change the consumption pattern of lifestyle products in China.When talking about the original intention of establishing BABO, the founder of the company, Shen Genlian recalled that she only wanted to develop an environmentally-friendly paper-making technology to break the publics stereotype of "paper-making equals polluting the environment". As unbleached paper is a new category, if one wanted to explore the market, one needed to think about how to conduct consumer education. With the enhancement of peoples health awareness, together with several years of market education, BABO has successfully opened the minds of consumers and have become synonymous with "health and environmental protection".Bai Bo, Founder and Chairman of AGF said that he was very happy to cooperate with Ms. Shen, who is an entrepreneur with innovative ideas, faith, and striving spirit. We look forward to seeing more exposure of BABO on daily use, and we also look forward to the rapid growth of BABO to meet the growing demand of consumers for high-quality, healthy and environmentally-friendly products.AGF will cooperate with BABO in carbon emission management and carbon footprint calculation throughout its life cycle, to promote the company to transform green and low carbon into a new momentum for development, seizing the industrial opportunities brought by low carbon while driving the transformation and upgrading of the industry at the same time.The Healthy Bamboo Industrial Park will soon be completed and once completed, it will be able to produce 200,000 tons of unbleached bamboo fiber tissue paper each year and will become Asias most advanced bamboo biomass refining and full-price utilization base, achieving the goal of using 1 million ton of bamboo annually, supporting 1 million farmers and producing 10 billion yuan in output value.